The budget is good news overall for young professionals – here’s how the changes will affect you

By Andy Lymer, Professor of Taxation and Personal Finance, Aston University

Chancellor Rachel Reeves’s first budget was full of a dizzying array of measures to raise over £40 billion to fund public services and boost investment.

The headlines suggest most of the extra taxes to be paid will fall on businesses, not directly on “working people”. If you are recently out of university or early in your career, here are a few measures most likely to affect your life.

Inheritance tax

This 40% tax is paid by the estates of those who pass away, before the remaining amount is distributed…

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